Why you need a side hustle.
So, what’s a side hustle and why would I ever need one?
A side hustle is a way to make money on the side of your day job. In the old days it was referred to as moon-lighting.
Nowadays, it’s a must.
It is flexible enough to allow you to work it and bring in additional money. Sometimes it is something you are passionate about.
As an example, when I was a human resources manager for a store group, I worked my direct sales business in health and wellness on the side.
The surprising thing was that, in just one and half years, I earned more on a part time basis than my executive level position. That is when I discovered the real power of residual income.
So why do you need a side hustle?
The events this past week have only confirmed this and are the reason to have a side hustle.
In the US, a government shutdown meant that over 800,000 people did not receive their pay check last Friday.
Can you imagine what it would do to you if you did not receive any pay? That you might even have had to work and not get paid.
The stress that it has caused in you and your family? Not to mention the government services that were not available to you in your time of need?
And to know it was preventable.
Here in Canada, the GM plant closure in Oshawa is affecting thousands.
For these people, their future has just been smashed as they scramble to look for new jobs.
The oil and energy industry is also in decline, with many jobs disappearing in Western Canada.
The Brexit deal was just rejected by the British Parliament. What impact will that have on people’s jobs and lives?
And there are other manufacturers worldwide who are doing the same, either closing or reducing jobs – Jaguar/Land Rover, Ford, Sears, K-Mart, Sam’s Club, Abercrombie and Fitch . . .
The list goes on and on.
So the times are changing. And having a side hustle can give you a buffer when the unexpected happens. A contingency plan.
I know I have said this before, but I will say it again. You need to prepare for the changes. You need to evolve your finances and your life.
“In order to stay relevant, you have to stay open to new trends educate yourself . You have to keep evolving.” – Natalie Massenet, fashion entrepreneur and journalist
One way is by becoming an entrepreneur and developing your own business, and not relying on a job where you are not in control.
Many people are developing on-line and network marketing businesses using social media, as their Option B, their contingency or back up plan.
You can do this part-time as a side business. You don’t need to give up your current day job. It’s a win-win situation, with many benefits. And you have it in case your day job disappears, and when you grow it, you benefit.
I can tell you from all the successful people I know earning millions, they all have more than one income stream. That’s why I have built multiple streams of income over the years.
So, if you are serious about increasing your income and looking for something on the side, contact me and we can discuss the different options.